GameStop’s Cohen Calls Bitcoin an Inflation Hedge After $500M Buy

GameStop has no intention of mimicking MicroStrategy’s aggressive Bitcoin acquisition strategy, according to CEO Ryan Cohen. 

Speaking Tuesday on CNBC’s Squawk Box, Cohen downplayed expectations that the company would continue buying Bitcoin in large quantities, despite its recent US$512 million (AU$789 million) investment in the cryptocurrency.

Related: Australia’s Crypto Moment: Why AUD Stablecoins Matter

We made an investment of just over $500 million in Bitcoin, and I look at it as a hedge against inflation and global money printing. I think so far that’s been the biggest demand for crypto.

Ryan Cohen, GameStop CEO

Company’s Crypto Approach Remains Cautious 

In the interview, Cohen made it clear that GameStop would not follow anyone else’s playbook and instead has its own “unique strategy”. He also added that the firm is not limiting itself to a single token or ecosystem, and that they’re “looking at all cryptocurrencies”.

“We will deploy that capital responsibly as I would my own capital. And only look for opportunities where the downside is limited and there’s a lot of upside. We’ll be opportunistic.”

The firm currently holds over US$9B (AU$13B) in cash and marketable securities following a US$1.5B (AU$2.3B) fundraising round. Whether any portion of that capital will be used to further expand its Bitcoin position remains unclear. 

It’s been a long time since the company made a statement regarding the use of cryptocurrencies. GameStop previously dabbled in crypto when it launched a self‑custody wallet and an NFT marketplace in 2023, only to shut both down months later, citing U.S. regulatory uncertainty.

That experience may explain the company’s current caution despite renewed crypto exposure.

Related: Fed, OCC, and FDIC Spell Out Crypto Custody Rules – No New Requirements, Just Safeguards